Thursday, 7 October 2021

Daily digest for Gupta Chandan & Associates, on October 7, 2021

posted: "INCOME TAX : Where assessee sold a land owned by it after holding it for a period of six years and same was shown as investment in its balance sheet and not as stock-in-trade and land was purchased out of its own funds and not out of borrowed funds, trans"
posted: "INCOME TAX : Where in search, huge cash was seized and notice to assessee was issued to submit various details within shortest period of 2 to 3 days, that too in Covid pandemic situation, matter was to be remitted for giving opportunity to assessee to sub"
posted: "RBI has included 'Paytm Payments Bank Limited' in the Second Schedule to the Reserve Bank of India Act, 1934 vide notification DoR.LIC.No.S926/16.03.006/2021-22 dated September 06, 2021 and published in the Gazette of India (Part III - Section 4) dated Oc"
posted: "INCOME TAX : Appeal could be said to be pending, even if delay occured in filing same was not condoned, thus, declaration filed under Vivad Se Vishwas Scheme could not be rejected merely on ground that appeal was invalid as delay in filing appeal was not "
posted: "INCOME TAX : Where Assessing Officer issued and dispatched a reopening notice against assessee on last date of expiry of period of limitation, even though notice was franked by postal department later, said notice was not barred by limitationINCOME TAX : "

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Daily digest for Gupta Chandan & Associates, on February 23, 2026

Income Tax Forms as applicable from 1st April 2026. Old forms under income tax Act 1961 added for better search....